City law firm Speechly Bircham LLP has advised on a £6 million AIM placing for Newport Networks Group PLC, the developer and supplier of Session Border Controller solutions to the telecoms industry. Speechly Bircham previously advised on the company’s AIM flotation in 2004 and a further fundraising in 2006. 200 million new ordinary shares were placed at 3p each, with the funds being used to strengthen the company’s balance sheet and provide working capital.
Newport Networks' product innovations and leadership have been recognised through Frost & Sullivan's 2006 IP Communications Next-Generation Carrier Infrastructure Entrepreneurial Company of the Year award. The company was founded in 2000 by Sir Terry Matthews and John Everard, both well known figures in the telecoms industry.
The Speechly Bircham team comprised client partner Jane Henry and corporate partner Andrew Collins, assisted by corporate solicitor David Hicks. Evolution Securities, the company’s nominated adviser, acted as broker.
For more information, please contact:
Andrew Collins, partner, on 020 7427 6511 andrew.collins@speechlys.com
Charlotte Souter, press office, on 020 7427 6466, charlotte.souter@speechlys.com